Regent Inns to delist from stock market

Embattled bar operator Regent Inns today confirmed that it is delisting from the London Stock Exchange.

The Walkabout owner, which reported an annual loss of £58.1m last October, believes it could save around £200,000 by delisting.

The move comes after the company admitted in February it was unlikely to survive unless it rebuilds its flagging sales.

Jim Glover, non-executive chairman of Regent Inns, said: “The private company arena is now the most practical one for Regent and will provide a more suitable environment in which to manage the company.

“After much consideration, the board now regards the delisting to be in the best interests of the shareholders of Regent as a whole. It is recommending this course of action to shareholders accordingly.”

If the resolution is approved by shareholders of the company, it is expected that the delisting will take effect at 8am on 15 June 2009.

The company’s announcement on Friday that it was considering delisting saw investors jettison the company’s shares, which lost more than 30% of their value in trading ahead of the market’s close that day.

Regent Inns confirms it is considering delisting from stock market >>

Regent Inns future in doubt unless it addresses falling sales >>

Regent Inns sees no let up in tough trading conditions >>

Regent Inns reports £58.1m loss >>

By Daniel Thomas

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